Ancient Israel Currency Systems | Mark 12

The monetary system of ancient Israel evolved from barter trade to a method of weighing precious metals to determine value. After the Babylonian exile, Israel adopted the Persian monetary system, and thereafter the currencies of Greece, Rome, and Judea circulated according to whichever power held dominion at the time. Understanding this history is a key to interpreting the economic life described in the New Testament.

Ancient Israel Currency Systems | Mark 12

Currency refers to the medium of exchange used in buying and selling goods. It serves as a means of payment, a measure of value, and includes gold coins, silver coins, copper coins, and paper money that circulate within a society. Ancient Israel had an undeveloped monetary system, so transactions were conducted through barter. As society progressed, valuable metals were weighed to determine the price of goods.

It is generally believed that standardized monetary units came into use in Israel after the Babylonian exile. That is, upon the return from captivity, Israel adopted the monetary system of Persia, the power that had ruled over them. The basic Persian coin was the daric, a gold coin. Thereafter, as each successive conqueror came to power, Israel’s circulating currency was replaced with that of the new ruling nation. During the Hellenistic period, coins were minted at Acco, a port city along the Palestinian coast. The most frequently mentioned currencies in the New Testament are the Greek drachma and the Roman denarius, both of which served as the basic coin equivalent to a common laborer’s daily wage. During the brief period of Jewish independence under the Hasmonean dynasty, the Jews produced bronze coins of their own. In the years just before the fall of Jerusalem, distinctly Jewish silver coins were also minted.

Monetary Units of Israel and Surrounding Powers by Period

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